Government’s view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it.�� —Ronald Reagan
Either through legislation or regu?lation, efforts to reduce fossil fuel emissions will impose costs through?out the economy. The impact on the overall econ?omy, as measured by gross domestic product (GDP), is substantial. The cumulative GDP losses for 2010 to 2029 approach $7 trillion. Single-year losses exceed $600 billion in 2029, more than $5,000 per house?hold.
Job losses are expected to exceed 800,000 in some years, and exceed at least 500,000 from 2015 through 2026.(Note that these are net job losses, after any jobs created by compliance with the regulations–so-called green jobs–are taken into account.
Hardest-hit are man?ufacturing jobs, with losses approaching 3 million. Particularly vulnerable are jobs in durable manufacturing (28 percent job losses), machinery manufacturing (57 percent), textiles (27.6 percent), electrical equipment and appli?ances (22 percent), paper (36 percent), and plastics and rubber products (54 percent). It should be noted that since the EPA rule is unilateral and few other nations are likely to follow the U.S. lead, many of these manufacturing jobs will be out?sourced overseas.
The job losses or shifts to lower paying jobs are substantial, leading to declines in disposable income of $145 billion by 2015–more than $1,000 per household.
Virtually every concern heightened by the eco?nomic downturn, especially job losses, would be exacerbated under the ANPR. As with cap-and-trade legislation, the EPA’s suggested rulemaking would be poison to an already sick economy. But even in the best of economic times, this policy would likely be the “death Knell” that ends them.
The estimated costs–close to $7 trillion dollars and 3 million manufacturing jobs lost–are staggering. So is the sweep of regula?tions that could severely affect nearly every major energy-using product from cars to lawnmowers, and a million or more businesses and buildings of all types. And all of this sacrifice is in order to make, at best, a minuscule contribution to an overstated environmental threat. Congress has wisely resisted implementing anything this costly and impractical. The fact that unelected and unaccountable EPA bureaucrats are trying to do the opposite is all the more objectionable.SOURCE: PATRIOT POST
While Obama is apparently planning to further destroy our economy and way of life to satisfy his ECO freak supporters. Russia is making money helping to build up our avowed enemies. The New media Journal had this piece of information in today’s edition. I will pass it on to you with a tip of my hat to the ever informative NMJ!
“Gordon Thomas, The Epoch Times
MI6(the British version of our CIA) has warned that Russia is poised to sell its own sophisticated S-300 missile defense system to Iran if the European Union and Washington push for Georgia and Ukraine to have NATO membership. The revelation came hours after EU heads had met at a Brussels conference to discuss how best to handle the ever-mounting tensions with Moscow. The Secret Intelligence Service discovered Moscow’s plans after monitoring visits to Tehran last month by a team of Russian military scientists who had helped to create the S-300 system.
Dan Goure, a senior Pentagon arms adviser on the system, described it as “one that surely scares every Western air force�� . It can track up to 100 targets at once and destroy aircraft at a range of 75 miles. Operational, it could dramatically affect any attack on Iran’s nuclear facilities. However, MI6 analysts believe the Moscow offer to provide the system to Iran is to create a foreign policy confrontation to test the mettle of a new US president.( note to President elect Obama, you cannot talk your way out of this threat, please do not try!)
It could also prove a test of resolve for Britain’s Foreign Secretary, David Miliband, who has been leading the EC drive to confront Moscow over militants in the Caucasus region. “Using the S-300 is a powerful bargaining move that has been clearly orchestrated by Vladimir Putin. He sees the steady encroachment of NATO into the former Soviet bloc and the recent granting of independence to the ex-Serbian province of Kosovo as a threat�� , said an MI6 analyst. Last week MI6 agents confirmed that some of the basic components of the S-300 system had been transferred to its close ally, Belarus, ready for a possible transfer to Tehran.